OccuLogix's Request to Transfer to NASDAQ Capital Market Approved
29 Julio 2008 - 11:45AM
Marketwired
TORONTO, ONTARIO (TSX: OC) announced today that it has received
approval from the NASDAQ Listing Qualifications Panel (the "Panel")
to transfer the listing of its common stock from The NASDAQ Global
Market to The NASDAQ Capital Market. The transfer will be effective
at the opening of business on July 30, 2008, and the Company's
common stock will continue to trade under the symbol "OCCX".
The NASDAQ Capital Market is a continuous trading market that
operates in the same manner as The NASDAQ Global Market. All
companies, whose securities are listed on The NASDAQ Capital
Market, must meet certain financial requirements and adhere to
NASDAQ's corporate governance standards. The NASDAQ Capital Market
includes the securities of approximately 450 companies.
The Panel's grant of OccuLogix's request for the transfer of its
listing to The NASDAQ Capital Market is subject to the condition
that, on or before August 29, 2008, the Company disclose, in a
Current Report on Form 8-K, pro forma financial statements
evidencing stockholders' equity of at least $2,500,000 or
demonstrate compliance with one of NASDAQ's alternative listing
criteria and the further condition that, on or before September 16,
2008, the Company inform the Panel that the Company's common stock
has evidenced a closing bid price of $1.00 or more for a minimum of
ten consecutive trading days. The Company's listing on The NASDAQ
Capital Market is also contingent upon the successful completion of
an application and review process. OccuLogix intends to submit its
transfer application to NASDAQ on or prior to August 4, 2008.
About OccuLogix, Inc.
OccuLogix (www.occulogix.com) is a healthcare company focused on
ophthalmic devices for the diagnosis and treatment of age-related
eye diseases.
Forward-Looking Statements
This press release may contain forward-looking statements. These
statements relate to future events and are subject to risks,
uncertainties and assumptions about the Company. These statements
are only predictions based on our current expectations and
projections about future events. You should not place undue
reliance on these statements. Actual events or results may differ
materially. Many factors may cause our actual results to differ
materially from any forward-looking statement, including the
factors detailed in our filings with the Securities and Exchange
Commission and Canadian securities regulatory authorities,
including but not limited to our Forms 10-K and 10-Q. We do not
undertake to update any forward-looking statements.
Contacts: OccuLogix, Inc. William G. Dumencu (905) 602-0887,
ext. 3910 Email: bill.dumencu@occulogix.com Website:
www.occulogix.com
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